On September 9, 2024, Finally, an AI-powered finance and HR suite, announced the successful closing of a $50 million Series B funding round led by PeakSpan Capital, alongside a $150 million credit facility from Encina. This new investment adds to the company’s previous funding, which includes a $95 million Series A in 2022 and an additional $10 million raised earlier this year, bringing its total funding to $305 million. Since its Series A, Finally has experienced an impressive annual revenue growth rate of 300% and expanded its workforce by the same percentage. The capital will be utilized to enhance product development, increase headcount, and expand market outreach.
Finally offers a comprehensive suite of financial tools tailored for small and medium-sized businesses (SMBs), which account for nearly half of the U.S. workforce. With a mission to alleviate the operational burdens faced by SMB owners, Finally provides solutions for bookkeeping, payroll, and expense management. PeakSpan Capital, a growth equity firm with over $1.5 billion in assets under management, has a history of supporting high-growth software businesses. Encina offers flexible credit solutions to specialty finance companies, further solidifying the financial support for Finally’s growth trajectory.
